CFD Trading – Buy Alibaba Group Holding (BABA.NYS) @ $261.00. Stop @ $251.00 and Target @ $281.00.

Price was supported for a second time at the low of $252.30 and there was a divergence warning from MACD as well. An Abandoned Baby candlestick price pattern was also formed with in the last 3 days of trading activity. This is a bullish reversal candlestick pattern. We think price is likely to test the upper edge of the cloud as well as a previous high on 24 November at $280.30

$261.00              Buy
$281.00              Price Target
$251.00              Risk Management Stop
3 weeks              Trade Duration

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